Singapore Electric Vehicle Market Outlook (2020-2025) | Size, Share, Trends, Growth, Revenue, Forecast, Analysis, industry, Value, Outlook & COVID-19 IMPACT

Market Forecast By Vehicle Types (Electric 2-Wheeler, Electric 3-Wheeler, Electric 4-Wheeler (Passenger Car and Light Commercial Vehicle (Goods Carrier)), Electric Bus and Electric Truck), By Charger Types (AC and DC), By DC Charger Connector Types (CHAdeMO, CCS and Others (including Tesla superchargers and GB/T), By DC Charger Power Ratings (40-80 kW, 80-120 kW and 120-200 kW), By Charger End Consumers (Public and Private) And Competitive Landscape.

Product Code: ETC072135 Publication Date: Feb 2023 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 80 No. of Figures: 14 No. of Tables: 8

Singapore Electric Vehicle Market report comprehensively covers the market by vehicle types, charger types, DC charger power ratings, and by-charger end consumers. Singapore electric vehicle market report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Latest 2023 Developments of The Singapore Electric Vehicle Market

Singapore Electric Vehicle Market is growing rapidly owing to several positive factors such as government initiatives to promote the adoption of EVs through. Some recent developments and plans included in this market are an expansion of charging infrastructure. The government is also planning to instate charging stations to support the increasing number of electric vehicles. Additionally, the government is also offering attractive rebates and tax exemptions for buyers of EVs, making them more accessible and affordable. Moreover, the promotion of electric vehicles by fleet operators is another major development of the Singapore Electric Vehicle Industry. Fleet operators such as taxi and private hire car companies are encouraged to switch to EVs along with the support of the government in terms of financing, which is driving the Singapore electric vehicle market growth.

Furthermore, the development of a smart mobility ecosystem is one of the key latest developments in the market. Singapore is working towards creating a smart and connected mobility ecosystem which includes the integration of EVs into the power grid, the development of smart charging networks, and the deployment of connected and autonomous vehicles, which will propel the Singapore EV Market Share. Overall, Singapore is taking a proactive approach to promote the adoption of electric vehicles and establish itself as a leader in the electric mobility space. The sector is rising in the country and it has become an inseparable part of the Asia Pacific Electric Vehicle Market

Singapore Electric Vehicle Market Synopsis

Deteriorating air quality, increasing carbon emissions and other environmental issues have raised an alarm to adopt electric mobility and cleaner energy resources with the total number of electric vehicles rising from 33 in 2016 to 1336 in 2019 end. Additionally, the electric vehicle market is expected to take a hit amid the Covid-19 pandemic in 2020.  

Singapore Electric Vehicle Market Overview

According to 6Wresearch, Singapore electric vehicle market size grew at a CAGR of 134.1% during 2020-2025. The government of Singapore has also demonstrated a strong commitment to introducing and promoting electric mobility in Singapore and has an ambitious plan to phase out all ICE vehicles by 2040. Additionally, the government has also set an ambitious plan to increase the number of charging points from 1700 to 28000 by 2030 to support electric vehicles and allow ease to adopt electric commutation among the people.

Market Analysis By Vehicle Types

The government of Singapore has taken various steps to promote the adoption of electric vehicles in the country offering various incentives and tax rebates of 45% on cars and Additional registration fees on the purchase of electric vehicles from 2021 to 2023. Further, SP group, Greenlots, ABB, and Blue SG are the early ones to play a crucial role in expanding the EV charging infrastructure in the country.

Singapore Electric Vehicle Market segmentation

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 6 Years Market Numbers.
  • Estimated Data Starting from 2020 to 2025F.
  • Base Year: 2019
  • Forecast Data until 2025F.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report

  • Singapore Electric Vehicle Market Overview
  • Singapore Electric Vehicle Market Outlook
  • Singapore Electric Vehicle Market Forecast
  • Historical Data and Forecast Singapore Electric Vehicle Market Revenues and Volume for the Period 2019-2025F
  • Historical Data and Forecast of Singapore Electric Vehicle Market Revenues and Volume, By Vehicle Types, for the Period 2019-2025F
  • Historical Data and Forecast of Singapore Electric Vehicle Market Revenues and Volume, By Charger Types, for the Period 2019-2025F
  • Historical Data and Forecast of Singapore Electric Vehicle Market Revenues and Volume, By DC Charger Power Ratings, for the Period 2019-2025F
  • Historical Data and Forecast of Singapore Electric Vehicle Market Revenues and Volume, By Charger End Consumers, for the Period 2019-2025F
  • Market Drivers and Restraints
  • Industry Life Cycle
  • Porter’s Five Force Analysis
  • Impact Analysis of COVID-19
  • Market Trends
  • Singapore Vehicle Market Revenue Ranking, By Companies
  • Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

  • By Vehicle Types

    • Electric 2-Wheeler
    • Electric 3-Wheeler
    • Electric 4-Wheeler
      • Passenger Car
      • Light Commercial Vehicle (Goods Carrier)
    • Electric Bus
    • Electric Truck

By Charger Types

  • AC
  • DC

By DC Charger Connector Types

  • CHAdeMO
  • CCS
  • Others (including Tesla superchargers and GB/T)

By DC Charger Power Ratings

  • 40-80 kW
  • 80-120 kW
  • 120-200 kW

By Charger End Consumers

  • Public
  • Private
Singapore Electric Vehicle Market: FAQs
The government is investing in the development of charging infrastructure to support the growth of the EV market which in turn helps the industry to grow. Moreover, increasing awareness of the environmental benefits of EVs has driven consumer demand for these vehicles.
Inadequate charging infrastructure and high cost associated with EVs are the major constraints that impede the industry to expand further.
The increasing demand from corporates and expanding charging infrastructure to make electric vehicles more accessible and convenient for consumers are some of the major opportunities for the market.
The battery performance of EVs is still a concern for many consumers due to which consumers are hesitant to purchase an electric vehicle.
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1. Introduction

1.1 Market Scope & Segmentation

1.2 Research Methodology – Sources of Information

1.3 Robust Forecasting Model

1.4 Assumptions

2. Singapore Electric Vehicle Market Overview

2.1. Singapore Electric Vehicle Market Overview

2.2. Singapore Electric Vehicle Market Revenues and Volume, 2019-2025F

2.3. Singapore Electric Vehicle Market Revenue Share, By Types

2.3.1. Singapore 2-Wheeler Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F

2.3.2. Singapore 3-Wheeler Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F

2.3.3. Singapore 4-Wheeler Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F

2.3.4. Singapore E-Truck Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F

2.3.5. Singapore Goods Carrier Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F

2.4. Singapore 4-Wheeler Electric Vehicle Market Revenues and Volume, 2019-2025F

2.5. Singapore 4-Wheeler Electric Vehicle Market Overview, By Types

2.5.1. Singapore Passenger Car Electric Vehicle Market Revenues and Volume, 2019-2025F

2.5.1. Singapore Light Commercial Electric Vehicle Market Revenues and Volume, 2019-2025F

2.6. Singapore Electric Bus Market Revenues and Volume, 2019-2025F

3. Singapore Electric Vehicle Charging Infrastructure Market Overview

3.1. Singapore Electric Vehicle Charger Market Revenues and Volume, 2019-2025F

3.2. Singapore Electric Vehicle Charger Market Revenue and Volume Share, By Types, 2019 & 2025F

3.2.1. Singapore AC Charger Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F

3.2.2. Singapore DC Charger Wheeler Electric Vehicle Market Revenue and Volume Share, 2019 & 2025F

3.3. Singapore Electric Vehicle Charger Market Revenues and Volume, By Type 2019-2025F

3.3.1. Singapore AC Charger Electric Vehicle Market Revenues and Volume, 2019 & 2025F

3.3.2. Singapore DC Charger Wheeler Electric Vehicle Market Revenues and Volume, 2019 & 2025F

3.4. Singapore Electric Vehicle Charger Market Volume Share, By End Consumers, 2019 & 2025F

3.4.1. Singapore Public End Consumer Electric Vehicle Charger Market Volume, 2016-2025F

3.4.1. Singapore Private End Consumer Electric Vehicle Charger Market Volume, 2016-2025F

3.5. Singapore DC Charger Market Volume Share, By Connector Types, 2019 & 2025F

3.5.1. Singapore CHAdeMO DC Electric Vehicle Charger Market Volume, 2016-2025F

3.5.2. Singapore CCS DC Electric Vehicle Charger Market Volume, 2016-2025F

3.5.3. Singapore Other DC Electric Vehicle Charger Market Volume, 2016-2025F

3.6. Singapore DC Charger Market Volume Share, By Power Rating, 2019 & 2025F

3.6.1. Singapore 40-80 kW DC Electric Vehicle Charger Market Volume, 2016-2025F

3.6.2. Singapore 80-120 kW DC Electric Vehicle Charger Market Volume, 2016-2025F

3.6.3. Singapore 120-200 kW DC Electric Vehicle Charger Market Volume, 2016-2025F

3.7. Singapore Electric Vehicle High Power Charger Market Volume, 2022F-2025F

3.8. Singapore Electric Vehicle Charging Infrastructure - Ecosystem

4. Singapore Electric Vehicle Charging Infrastructure Competitive Landscape

4.1. Singapore Electric Vehicle Charger Volume, By Company, 2019

4.2. Singapore Electric Vehicle Charger Market Volume Share, By Company, 2019

5. Company Profiles

6. Disclaimer

List of Figures

1. Singapore Electric Vehicle Market Revenues and Volume, 2019-2025F ($ Million, Units)

2. Singapore Electric Vehicle Market Revenue Share, By Types, 2019 & 2025F

3. Singapore Electric Vehicle Market Volume Share, By Types, 2019 & 2025F

4. Singapore 4-Wheeler Electric Vehicle Market Revenues and Volume, 2019-2025F ($ Million, Units)

5. Singapore Electric Bus Market Revenues and Volume, 2019-2025F ($ Million, Units)

6. Singapore Electric Trucks Market Revenues and Volume, 2019-2025F ($ Million, Units)

7. Singapore Electric Vehicle Charger Market Revenues and Volume, 2019-2025F ($ Million, Units)

8. Singapore Electric Vehicle Charger Market Revenue Share, By Types, 2019 & 2025F

9. Singapore Electric Vehicle Charger Market Volume Share, By Types, 2019 & 2025F

10. Singapore AC Charger Market Revenues and Volume, 2019-2025F ($ Million, Units)

11. Singapore DC Charger Market Revenues and Volume, 2019-2025F ($ Million, Units)

12. Singapore Electric Vehicle Charger Market Volume Share, By End Consumers, 2019 & 2025F

13. Singapore DC Charger Market Volume Share, By Connector Types, 2019 & 2025F

14. Singapore DC Charger Market Volume Share, By Power Ratings, 2019 & 2025F

15. Singapore Electric Vehicle High Power Charger Market Volume, 2020E-2025F (Units)

16. Singapore Electric Vehicle Charger Market Volume Share, By Company, 2019

List of Tables

1. Singapore 4-Wheeler Electric Vehicle Market Revenues, By Types, 2019-2025F ($ Million)

2. Singapore 4-Wheeler Electric Vehicle Market Volume, By Types, 2019-2025F (Units)

3. Singapore Electric Vehicle Charger Market Volume, By End Consumers, 2019-2025F (Units)

4. Singapore DC Charger Market Volume, By Connector Types, 2019-2025F (Units)

5. Singapore DC Charger Market Volume, By Power Ratings, 2019-2025F (Units)

6. Singapore Electric Vehicle Charger Volume, By Company, 2019

 

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